President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country. Click the headline to read more.

Items Tagged with 'Trump Administration'

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The Trump administration just took another significant step toward derailing a controversial fair housing rule issued by the Obama administration in 2015. HUD announced late Friday afternoon that it is “withdrawing” a computer tool that was to be used to enforce the Obama administration’s Affirmatively Furthering Fair Housing rule.

Ginnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president of Ginnie Mae. If confirmed, Bright would take over officially for former Ginnie Mae President Ted Tozer, who stepped down at the beginning of the Trump administration.

The state of New York is moving to join a lawsuit against the Department of Housing and Urban Development and HUD Secretary Ben Carson over Trump administration recently moving to delay a controversial Obama-era fair housing rule meant to address segregation in housing.

Changes could be on the way for the Department of Housing and Urban Development’s disparate impact rule. The rule, which was enacted by HUD during the Obama administration, is used as a method of enforcing the Fair Housing Act. Now, HUD is planning to invite comment from the public on whether its rule is "consistent" with a landmark Supreme Court ruling from 2015.

[Commentary] The Consumer Financial Protection Bureau is dead. Did you know that? No, the agency that everyone in the financial services industry loves to hate isn’t totally gone, at least not yet… but the CFPB as you knew it is dead. The bureau’s cause of death? Mick Mulvaney.

At various points during his tenure as acting director of the CFPB, Mick Mulvaney has made it clear that the bureau will not be run the same way under the Trump administration as it was under the Obama administration. In the wake of those changes, several states have indicated that they are prepared to step in and fill the consumer protection void. You can now count New Jersey among those states.

Gary Cohn is resigning from his position as White House National Economic Council director, the New York Times reported Tuesday. It appears that President Donald Trump’s recent announcement that the U.S. plans to impose a 25% tariff on steel imports and a 10% tariff on aluminum was Cohn’s bridge too far.

In a new report from the New York Times, U.S. Department of Housing and Urban Development Secretary Ben Carson acknowledged the difficulties of his role, which he once considered quitting, within the Trump administration. Carson told the paper: “There are more complexities here than in brain surgery,” about leading HUD.

Late last week, a group of 113 congressional Republicans declared their support for President Donald Trump’s authority to name Mick Mulvaney as the interim director of the Consumer Financial Protection Bureau. The Republicans argue that Leandra English's assertion that she should be leading the CFPB has no merit.

Reports circulated late Tuesday that the Department of Housing and Urban Development spent more than $31,000 on a new custom dining room set for Secretary Ben Carson’s office in late 2017 and that the agency is planning more furniture upgrades to the tune of $165,000.

This month inHousingWire magazine

He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.

Feature

One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.

Commentary

Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.